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re: The average car is now 12.5 years old and the interest
Posted on 5/14/24 at 9:26 am to LNCHBOX
Posted on 5/14/24 at 9:26 am to LNCHBOX
quote:
Pretty amazing under W, Obama, and Trump I was able to secure much better financing rates for new vehicles while at the same time having worse credit than I do now.
So when rates hit 17% under Reagan, was it also a representation of the administration?
2
Posted on 5/14/24 at 9:48 am to LSUfan4444
quote:
So when rates hit 17% under Reagan, was it also a representation of the administration?
That was done with a specific purpose and if you remember the rest of the 80s, it worked out pretty well.
Posted on 5/14/24 at 10:23 am to LSUfan4444
quote:
So when rates hit 17% under Reagan, was it also a representation of the administration?
From the google machine - Home mortgage rates averaged about 8.85% at the onset of the Carter administration in 1977. However, by the end of Carter's presidency in 1981, home mortgage rates averaged a whopping 16.64%. Home mortgage rates have not been this high since the Carter administration.
Average US Inflation rate during the Carter administration was 9.9% (the highest of any president).
Average US Inflation rate during the Reagan was 4.6%.
Source = Investopedia
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